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Special Report With Bret Baier

News/Business. Bret Baier. (2011) New.

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U.s. 11, Pakistan 8, Washington 8, Us 7, Texas 6, Mcconnell 5, Obama 5, Boehner 5, Afghanistan 5, Utah 5, John Boehner 4, America 4, Michele Bachmann 3, Geico 3, Murdock 3, Bachmann 3, Rupert Murdock 3, Mitch Mcconnell 3, Colorado 3, Iowa 3,
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  FOX News    Special Report With Bret Baier    News/Business. Bret  
   Baier.  (2011) New.  

    July 13, 2011
    6:00 - 7:00pm EDT  

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see you tomorrow. >> bret: mooy's sends out a warning to lawmakers, the u.s. could lose the triple-a credit rating in the next few weeks. still no deal on the debt limit. so what about senator mitch mcconnell's backup plan? another deadly terror attack in a now familiar place. live from the studio in washington, this is "special report." good evening, i'm bret baier. on a day we learn the federal deficit hit $971 billion for the first nine months of the fiscal year, major credit agency put america on notice that the credit rating is now at risk. this happened as talks on extenting the borrowing limit going on at the white house. we have fox team coverage tonight. we get more on the debt limit talk from mike emanuel in a minute but we begin with peter barnes who has nuts and bolts of what the rating warning means. good evening. >> reporter: for as far back as credit ratings go, nearly a
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century, the u.s. has always found the top credit rating, triple-a been a reflection of the country financial strength and source of enduring pride. tonight, the nation faces a serious threat to the rating because of the deadlocked budget and debt limit talk in washington. moody investor service placed the triple-a rating on review for a possible downgrade. given the rising possibility that the statutory debt limit won't be raised on a timely basis, leading to default on u.s. treasury debt obligation in early june, moody's warned it would launch the review in mid-july if there was not meaningful progress in the negotiations to raise the debt limit. other credit raters issued similar warnings. experts agree that loss of a top credit rating could mean the treasury, the taxpayers likely would have to pay the higher interest rates to borrow. higher rate rates that could rie over to interest rates for mortgages, car loans and business loans and hurt the economic recovery.
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in a statement, the obama treasury department said tonight, "moody's assessment is a timely reminder of the need for congress to move quickly to avoid defaults on the country's obligations. and agree upon a substantial deficit reduction package. a spokesperson for house speaker john boehner said , 'as speaker boehner warned for months if the white house does not take action soon to address our nation debt crisis by reining in spending, the markets may do it for us. this action by moody's today reinforces the speaker's warning." bret? >> bret: federal reserve chairman ben bernanke is talking about the possibility of more stimulus. what can you tell us about that? >> reporter: that is right. bernanke told lawmakers today that the fed stands ready with more stimulus, more easy money moves if the economic recovery stalls. the testimony was his first since the weak june jobs report last friday. just 18,000 new jobs last month. the second sub par month in a row. bernanke repeated that the
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economic growth should improve in the second half but a lot of things that hurt economic growth earlier in year, like the japanese earthquake and the spike in oil prices were temporary shocks that are subsiding now. but he sounded more worried than ever about jobs. the financial health of struggling consumers, among other stimulus steps. bernanke said the fed could announce plan to keep the current interest rates lower for longer. bret? >> bret: peter, thank you. now talks on extending the debt limit. white house correspondent mike emanuel has the latest development. >> good evening. the president and key lawmakers continue meeting at this hour after 90 minutes together, talking about the debt situation. since the daily meetings have failed to produce a major breakthrough so far. much of the talk in washington has been about a backup plan unveiled by the senate republican leader mitch mcconnell he spoke about again today. >> the last resort if he
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continues to shirk his duty to do something about the fiscal situation. >> pinning the political blame on president forcing him to make three request for the $2.5 trillion to run the government through the 2012 election. some conservatives accuse mcconnell of blinking first in the debt showdown with a blog calling it the pilot pass the buck act of 2011. they e-mailed supporters and said, "if this plan goes through, senator mcconnell will have betrayed you, me and every other freedom-loverring patriot in america." other republicans expressed their displeasure. >> i don't like the idea of relinquishing our power to raise the debt just to the president. i view we have a responsibility as members of congress to bring accountability back to this country. >> but the senate democratic leader defended mcconnell's plan. >> i'm heartened by what i read. this is a serious proposal. i commend the republican leader for soming forward. >> reporter: press secretary jay carney says the white house doesn't favor it but applauded the effort.
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>> while we think it's important that senator mcconnell acknowledged that under no circumstances should we default on our obligations that would not be a satisfying outcome to us. >> speaker john boehner described the frustration of negotiating with the white house, "dealing with them the last couple of months is like dealing with jell-o. sometimes it's firmer than others. sometimes it's like they left it out overnight." former speaker nancy pelosi talked about how she handled the issue when president bush was in office. >> five times i voted to lift the debt ceiling. though i didn't agree with how we got to that place, it was not even a question that america would pay its debt. >> sources familiar with the meeting, democrats and republicans say there is a chance they could take a break from the daily meetings after today. the thought is it could provide breathing room after four consecutive days of meetings. bret? >> bret: thank you. how would a potential
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agreement affect you and your family? chief washington correspondent james rose season here to run numbers for us. james? >> reporter: good evening. we hear all the talk in context of the debt ceiling crisis, billions and trillions. but as the graphic wizardss at fox news realized, it's all your money. let's look at how your money factors in the national debt. if the lawmakers and lawmakers agree to give uncle sam $2.5 trillion in borrowing power as they've been debating, the debt ceiling would be extented from the current figure to $16.7 trillion. let your eyes linger on all the zeros. guess what? this figure only gets us through the 2012 election. now let's see what you might personally contribute to retirement of the accumulated debt. go to foxnews.com and use the calculator to plug in your numbers. if you make between $100,000 and $200,000 a year, success by any definition but nobody idea's of filthy rich, your share is over $206,000. you might wonder how can
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someone making $100,000 be asked to contribute $206,000 on average to retire the debt? that's why we're never truly going to pay off the national debt, not with social security, defense department and the paperclips and the post-it notes that uncle sam pays for every day. >> how do you think it will impact you, per se? >> i think that i should probably buy everything i need to buy right now before august 2. or else my currency might be valueless. >> i know the negotiations going on, but i'm not sure exactly what is going on with it. >> i still have student loans. i can see an increase in the interest rate. they increase interest rate across the board. >> the way we think about it, we're in debt. we have been in debt. we know we're digging ourselves farther in debt and we want to continue to do so. >> nationwide poll found americans split between which would do more damage, raising the debt limit or failing to do so. >> bret: thank you. check it out on foxnews.com. stocks rebounded a bit today, the dow gained 45. the s&p 500 was up 4.
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the nasdaq finished ahead 15. gold closed at nearly $1,585.50 an ounce today in new york. after hitting a record high of clearly $1,588 in london. we have more tonight on the debt implications of government programs that shell out a lot more than they rake in. chief washington correspondent jim angle has that. the debt talks taken up reform of entitlement such as medicare, because that's where the money is. >> the failure of washington to be honest about medicare, and social security, and the federal budget threatens the economic security of americans. >> some democrats agree. >> we're in fundamental agreement that medicare and social security, requires some reforms to be strengthened. we are in big disagreement as to how to do it. >> that is an understatement. democrat favor tax hike within
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social security and medicare as well as increasing income taxes. budget committee chairman paul ryan argues part of the problem in medicare is the new healthcare law. which claims savings will materialize, and the chief actuary of medicare has the same concerns. >> there is a lot of evidence to suggest some of the payment provisions will not be sustainablsustainable in the lo. >> it pays providers including doctors lower and lower rates. foster says over time it will leave 40% of all providers in the red raising questions about whether they'll treat medicare patients. >> if at some point our payment rate to providers become less or significantly less to the cost of providing services, they either will be unwilling, or unable to continue providing services. >> last year, 51% of medicare's cost was taken out of the general revenue; meaning, half the cost of medicare was paid by borrowing money. which is why it's part of the debt talks. social security, which does not rely on general revenues,
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only dedicated taxes will be forced to cut benefit by 23% after 2035. there are many reform proposals for both programs. democrats were reluctant to talk about them, preferring instead to talk about taxes. >> look at the folks who did get big tax breaks, not that long ago. >> two things are clear. one, entitlement programs are in trouble. two, the discussion is just like the one on the debt ceiling. spending cuts versus increased taxes in washington, jim angle, fox news. >> bret: we tell you consequences you probably have not considered from a government shutdown. that is later in the grapevine. up next, another deadly attack in a major city in india.
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>> bret: one of southeast asia financial capitals has been hit again by terrorists, according to authorities. mumbai, india, rocked in evening rush hour by a series of explosions that killed at
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least 21 and injured more than 100. national correspondent catherine herridge tells us what happened. a warning here, some of the images in this piece may be disturbing. >> the explosions went off in the peak evening rush hour in three of mumbai's densely populated neighborhoods. the blasts were described by indian officials as simultaneous, a hallmark of a terrorist attack. >> we condemn the despicable acts of violence, designed to provoke fear and division. those who perpetrated them must know they cannot succeed. >> early reports suggest they used i.e.d.s in parked cars. a style of attack most often associated with extremists in afghanistan, iraq and pakistan. while there is no immediate claim of responsibility, the u.s. officials say a handful of networks including an indian terrorist group may be behind the bombing. a senator with an intelligence background says the indian mujahadeen who want them to
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dominate the indian way of life is suspect. but they say the group is poorly organize and possibly had outside help, possibly from pakistani intelligence. >> with a dramatic attack like this, coordinated over three locations, it took money and it took planning. that always raises the speckor of the isi in pakistan. >> the three explosions at the mumbai opera house, jewelry district and major commuter hub drew comparisons to the mumbai attack in 2008. the ram pain that lasted for 60 hours killing 166 people was low-tech. it relied on ten pakistani militants armed with cell phone, handguns and back packs filled with explosives. the group l.e.t. linked to pakistani intelligence was blamed. >> the obvious question: is pakistan involved? i cannot think of any conceivable reason why pakistan would want to provoke a crisis with india at this point. >> if pakistan was in crisis with india, same time with pakistan, it would have major implication for u.s. national
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security. >> bret: thank you. speaking of that, pakistan and u.s. trying to patch up their differences. series of high-level visits underway. head of the u.s. central command, james madist met today with pakistan army chief and joint chief chairman in islamabad. the effort to harden u.s. airports against terror attacks is coming up short in the opinion of republican congressman jayson chaffetz of utah, who is citing government statistics showing security breaches since september of 2001. the t.s.a. says it represents a small fraction of the 5.5 billion people screened since 9/11. the army ranger awarded the medal of honor tuesday for saving the lives of two buddies in afghanistan says he will be the same soldier he always was. sergeant first class leroy roger petrie honored at the white house tuesday. >> the declaration, it's not depiction of who i am.
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i am still me. the medal is just a declaration that they thought i deserved. ♪ ♪ >> bret: in america's news headquarters, president obama's re-election campaign had a huge take in the second three months of the year. chief political correspondent carl cameron has the big dollar picture. >> president obama raised half a million dollars a day for the last three months. $58 million from a half a million donors in the second quarter. alongside $38 million raised by the democratic national committee, the $86 million haul shatters records. the republican national committee is targeting three swing states that is vulnerable. pennsylvania, michigan, wisconsin. they launched an attack ad with president obama's convention rhetoric and reality now. >> we measure progress by how many people can find a job.
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whether you can put tra money away at the end of even month to some day watch your child receive a college diploma. >> reporter: he leads every rival in the latest head-to-head matchup. among republicans, mitt romney is ahead of michele bachmann who leads a three-way race for second, including sarah palin and rick perry. no one else breaks double digits. the texas governor's plan for a day of prayer and fasting for nation's challenging at the houston astrodome and elsewhere august 6 are now the object of a lawsuit by the wisconsin based freedom from religion foundation -- religion foundation. more than half of the g.o.p. states are self-described evangelical christians. perry aides say legislation does not change the plan for the prayer rally. bachmann courts religious conservatives calling herself job creator for the christian counseling agency that she and her husband own.
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but a group offered prayer and religion to counter homosexuality at her clinic. supports say the counseling service is under attack. the candidate has not commented. tim pawlenty stepped up his courtship of conservative on the advice of strategy sarah huckabee, daughter of mike huckabee. pawlenty is running a minute-long radio ad to urge iowans to watch this six-minute video. there is few places that they would buy radio commercials to urge radio to watch six-minute video on his or her faith but in iowa, less than 150,000 will decide the g.o.p. caucuses and the vast majority of them are devout christians. they're listening. >> bret: we'll be there soon. thank you. still ahead -- the latest troubles for rupert murdock's media empire. but first, underground riches in the great american west.
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>> bret: congressional republicans asked the attorney general to produce e-mails and other things relevant to operation fast and furious. the law enforcement plan that put guns in the hands of criminals. many weapons used by the mexican drug cartel members in crimes. the amount of energy u.s. hes in underground shale could make a difference to the national bottom line. the challenge is getting it out. senior national correspondent john roberts reports engineers think they have found a way. >> this is the stockpile we got. >> eastern desert of utah, there is remarkable acamy going on. >> we head it up from 800 to 950-degrees fahrenheit.
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>> they are turning solid rock to oil. >> we know we can produce for less that they can. >> it's called oil shale and there is massive amount in the basin of utah and colorado. >> this is where the richest oil shale based in the colorado comes up out of the earth. >> it look like everyday stone. break it open. >> that really smells like oil. >> you will find that building blocks of crude. >> how rich is this in oil? >> this is probably a richness that is about a barrel of oil. in a ton of rock. >> the u.s. geological survey estimates that between the bay zip in colorado and the uinta basin in utah, there is 2.8 trillion-barrels of oil locked up in the shale. if even half of that were recoverable, that is more than all the oil in the middle east, russia and venezuela combined. that is potentially hundreds of years of oil. trillions in revenue.
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stunning resource. the problem is how to extract it without going broke. energy analyst randy udall says it's the petroleum equivalent of fool's gold. >> we have been trying to do it for 100 years. everybody that tried to produce oil shale lost their shirt and broke their pick. >> oil shale has troubled history here. 100 years ago the oil men tried to make it work and couldn't. in 1982 with the oil prices high, exxon almost did it. but the price dropped and it went still known as black sunday, the company pulled out overnight, leaving 2,000 people out of work. >> i compare it to pulling the sword from the stone. now maybe they are going to figure it out. but it's not easy to do. >> enshale in utah says they have it figured out, by mining shale and processing on the surface with new technology. other companies like shell spent millions on cutting-edge research to do it underground. the plan is heat it to 7,000
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draes over months and years to release oil from the shale to be tapped with a conventional well. >> is this ever going to be viable? >> i been at this for 40 years. i'm still hoping it will. you know, i believe it might be. because we have the new technology. >> the promise of oil shale has run up against environmental concerns. it would take enough electricity to power a million homes. it takes water to produce oil and out here there is barely enough to go around. >> we have diminished supply and growing demand. in my mind wasting that water on the ever chasing fantasy of oil shale is not worth it. >> the oil shale battle is now being fought in the marble halls of congress. after the obama white house put bush administration plans to develop oil shale on hold,
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wyoming senator john barassa introduced a bill to put it on the fast track. >> we need to focus on energy. this administration fought us every step along the way. >> so how close are we to oil shale? inshale says they could produce in two years. the more complex underground process, a decade or more a away. supporters belief rock for now a nice paperweight could be important source of oil to get us off of our appetite for foreign sources. bret? >> bret: john, thank you. minnesota's government shutdown could start looking a lot like prohibition before long. we'll tell you why in the grapevine. everybody is invited almost to the marine corps ball. ugh, my feet are killin' me. well, we're here to get you custom orthotic inserts. dr. scholl's custom fit orthotic center
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>> bret: now some fresh pickings from the political grapevine. minnesotaen drowning their sorrows in alcoholic beverage better drink up fast. many bars, s, and liquor stores are running low on supply and can't renew the alcohol purchasing cards because people who normally do that are out of work. local report say cigarette sellers could be in a similar
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bind in minnesota. as various polls show the public concern over global warming is fading, al gore is launching a new campaign to raise awareness about it. the climate reality project is planning a local event that gore says will broadcast reality of the climate crisis. a gallup survey shows 53% of americans felt somewhat threatened by global warming. that was down 10% over three years. pew poll showed similar findings with only 32% saying global warming is a serious problem, down 13 points since 2007. singer, actor, justin timberlake has gotten his own invitation to a marine corps ball after he urged movie costar kunis to say yes to a youtube request from a deployed marine in afghanistan. sergeant scott moore posted his video for kunis as part of a bet. she accepted the invite this week. moore says he felt bad for putting the actress on the spot but, "it's not like i was
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going to bump into her on the streets of afghanistan between now and the ball." finally genuine or a photo shop fail? that is the question concerning this picture released by sire state news agency. of president bashar assad swearing in a newly appointed governor. some western media noticed irregularities including that the two men are not looking directly at one another. now a story that spans two continue innocents. continue -- continents. they want to know if they -- [ inaudible ] senior foreign affairs correspondent amy kellogg reports from london. >> order. order. >> there was a heated debate today in the house of commons to get rupert murdock's news corporation to abandon its bid to buy the remaining 61% of shares in british broadcast
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giant bskyb. >> what has happened at the company is disgraceful and has to be addressed at every level. they should stop out the merger when they sort out the mess they created. >> shortly after the debate, murdock abandoned his bid. a phone hacking scandal that has been going on for years took on a new scene when allegation "news of the world" run by murdock news international hacked in the cell phone messages not just of celebrities, royals and politicians but of a murdered girl, victims of the bombings and families of soldiers killed in afghanistan in pursuit of scoops. there were claims that they were paid bribes. then allegations emerges at other papers. the sun and sunday times used unethical means to dig in gordon brown's private life and finances. he came back to lambaste the
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empire saying it preyed on people's emotions. >> the private intermost fears bought and sold. >> news international ronaldly denied the allegations. others suggested that there is an ax to grind as murdock's papers supported david cameron in last year's election. this isn't the end. parliamentary committee here asked rupert murdock his son james, and news international chief executive rebecca brooks to appear in person to answer questions about the phone hacking scandal. in the united states, two democratic senators asked the attorney general and the securities and exchange commission to investigate whether news corporation violated any u.s. laws. in london, amy kellogg, fox news. >> r >> bret: we will continue to follow the story. i mispronounced the hero awarded the medal of honor for
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saving his buddies and losing his hand. the hero's name is sergeant first class leroy arthur petry. today's development or lack thereof in debt talks will discuss them with the fox all-stars when we return.
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the idea of not doing something serious about the debt before august sicken mess. the time has come for a balanced budget a.m. it forces washington to balance its books. we can't leave it to politicians in washington to make decisions we need to get the fiscal house in order. >> the president believes that we do not need to amend the constitution to cut the deficit. we need to get beyond politics as usual and find bipartisan common ground. the balanced budget today and has always been about ducking responsibility rather than taking our challenges head on.
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>> bret: the completing just wrap up -- the meeting just wrapped up. after speaking to john boehner, he spoke to reporters. he had a few interesting quotes. i'll read a few of them. he said like dealing with jell-o where some days it's firmer than others. by saturday, they, the administration, spent the previous day-and-a-half going backwards on entitlement reform. what the president is asking to us do won't pass. the american people want to us hang tough in terms of spending cuts and not giving in on entitlement reform. they, the white house, know they're not winning. what about the back and forth? the panel, juan williams, with the hill. a.b. stoddard, associate editor of the hill. and syndicated columnist, charles krauthammer. a.b., first to you. >> given the warning by the fed chairman ben bernanke about destruction and damage to the economy, even if the threat of default, the
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decision by moody's to to conduct a review to downgrade the triple-a rating. letter from the financial services round table to congress saying work dill jently and in a timely manner in a bipartisan manner to get it done. the revitalization potentially of the gang of six illustrates the sense of urgency that people who are watching the market and worry about a credit crisis are feeling. the politics are looking terrible, the republicans lost control of the message in the last 24 hours. too much focus on the senate minority leaders' proposal to try to duck and abdicate responsibility. house speaker john boehner and the top lieutenant majority leader can't can't saying we have nothin -- leader cantor sag we have nothing to pass. it's time for republicans to come up with a plan that cuts-only plan and present it to the president and say yea
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or nay. i believe the president will cave on tax increases and revenues because he must. >> bret: if you worry about the take that the president needs to come up with a plan. >> as the news cycle continues to headline mitch mcconnell statement on how he doesn't want to help keep obama get elected. it's poise on the the republicans. they should look like they're governing, which is what they did in the april showdown over whether or not to shut the government down. it's time to say we're not raising taxes, take it or leave it and get to a vote. >> bret: charles? >> i think a.b. is right. republicans are losing the debate. i think the fact that they have been portrayed by the media as walking out, being intransjent on tax cut, et cetera, hurt them. >> bret: even though boehner says it's not true. >> i'm talking about how the story is carried. >> bret: i'm just telling you that that is what he said in the interview. >> i agree with you.
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it's not the first time that the media have not exactly played it straight when obama and the republicans are involved. that is the reality and why they are on a losing end. the president has a weak point. the argument and the demagoguery he did in the tuesday newser, he keeps insisting i will not accept a short-term deal. i will only accept a big long-term deal. no logic or reason other than the real reason he wants a long-term deal, one to get past election date. that is not an argument he wants to make in public no way to defend that position on the merits. thus republicans ought to challenge him to pass a short-term measure, three months, six months, dare him to exercise a veto. >> bret: juan, i hear the phone call over the weekend lasted longer than portrayed between the president and speaker boehner and the
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president tried to keep speaker in the big deal talks. perhaps he worried about the deal falling apart. what are we to believe about the negotiations ongoing that happen day after day? what is happening inside? are they trying to get the balanced budget amendment tied to something? how is it going to pass? >> i don't see how it can pass. you heard jay carney the president's spokesman a moment ago in the sound bite that you played say the president won't buy into it. that is a false acquisition today by republicans as try toy to recapture the meritus. dr. krauthammer is tryin tryingo give advice how to win the debate. even at the moment up on the hill there is a clear division. they say we can't have the mcconnell plan, the tea party types saying mcconnell is abdocation -- why are you making president obama the
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king, giving him the power. mcconnell's group and leadership including boehner say we need a deal because we are not going to win this argument and it could be explosion i, especially with president obama talking about the threat and people talk about the fear politics and fear mongering of not delivering the social security checks. >> bret: the president is not going to let, is he, it get to that point? is he not going to punt at some point and say a short-term deal, this is all i can get, i am going to get it? he won't be the one to say i'm going to veto this short-term deal is he? >> so far, that is exactly what he's doing. >> bret: but in reality, juan. >> is this poker? the answer is right now he has the political advantage over republicans. they're being pummeled. >> in reality, the republicans don't want a short-term deal. they don't want to take the vote once and they don't want to take it twice. if they offer a long-term deal to get to spring of 2013 even
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with new revenues i bet he takes it. >> speaker boehner? >> the president of the united states knows if an economic tornado comes he is not going to get re-elected. >> it can't get through the house. packen of cuts, huge cuts? no new revenue and this is all we'll get you, he will say no? >> they are running up the debt. >> bret: how does it pass? how do you add up the lawmakers and get it passed? >> there is no cut deep enough without new revenue to pass the republican conference? >> i don't know. i'm asking you. >> they're opposed to revenue and new taxes. if it's cuts-only package to dig deeply enough in entitlement, how does the president say no through the spring of 2013? >> the republican are forced to increase taxes the end of the republicans there will be none. >> we are running up a debt of
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$100 billion a month. if you want to get a two-month extension, which is what republicans ought to offer on the brink. it's $20 billion a year, nothing out of a $3.5 trillion budget. >> what is interesting to me they had the meeting today. rather than talking about coming back, they are talking about taking a break. time is running short. >> bret: next up, president obama hauls in huge fundraising totals. should republicans worry about that? $86 million in the second quarter? vote in the online poll, the home page, foxnews.com/specialreport. results after this break.
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step back and look at the larger budget picture. globally, we raise more than $86 million. more than $47 million for america and more than $38 million for the dnc. >> the reality is it's very good at chasing down big donors, but he hasn't done a very good job of creating jobs. i don't think any amount of money will save a president who right now even with this money, even with the money coming in, apparently in to his coffers, he is not going to have the ability, i don't think, to pull the wool over the american people's eyes. >> before the break we asked should republicans be worried about president obama fundraising quarter? 36% said yes. 64% said no in the unscientific poll. before we go to this discussion wrap up what we are getting out of the meeting that just wrapped up at the meeting. house majority leader eric cantor is saying that the meeting ended abruptly.
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saying that the president abruptly walked out on the meeting. the democratic spokesman said it dealt with mandatory spending and they are coming back tomorrow on the agenda and forcing mechanism, payroll and other spending cuts. they said they have until friday to figure out what to do if they can do a big deal. cantor can't made a push for short-term extension. the president brought up the moody's warning about the triple-a credit rating and i want to give you the latest. back with the panel talking fundraising numbers. juan, it was staggering the $86 million for second quarter. big dollars.
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it far surpasses what president bush was able to do. as the incumbent. indication that while people think maybe the left is not that enthusiastic about president obama, that the money is there. because it came not from what i thought would be the case, the wall street, hollywood, liberals but the average donation was about $60. that is strong for president obama at this point. it also points out if you look at mitt romney the leader among the republicans right now with $18 million, what a distance. there is silence in terms of the big fundraisers helping to pick republican candidate. >> bret: what about the previous rnc chairman take when it comes down to it the amount of money that the president and his campaign take in is not going to propel them past economic problems he has to sell in the electorate? a good spin? >> i agree, the jobs number is
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much mar than fundraising numbers but the republicans would have loved to have the fundraising numbers. the chairman's premise, he tried to say it came from fat cat and he is wrong. juan is right. the president had 500 -- the democrats and the president had more than 550,000 donors giving average of $69. those are small donations. those people will give again. that will excite the grassroots. the left is not asleep and not disspirited. it does not mean that republican can't beat them but he has more money than they do at this point and they would love to have it. >> bret: charles? >> in re-election, the money has one use no effect to get obama out of the box on explaining unemployment, et cetera, failure of the economy. it will be used on negative advertising. it will be the dirtiest campaign you've ever seen. $1 billion of sheer attacks
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because it's a referendum on obama. unless the democrats make personality or issue of republicans that is the issue. if you have a lot of money as incumbent a negative campaign. >> bret: to the g.o.p. side quickly, do you see michele bachmann still surging in iowa? >> she is. a recent poll out of iowa that shows she has the advantage in intensity gap. the voters most following the race there and most intensely devoted political activists really love michele bachmann. that is a good bramer if for the straw poll coming up so quickly in august and the caucus in january, a few months later. >> bret: one month from tomorrow, the g.o.p. debate on fox news channel in ames, iowa. that is two days before the straw poll is going to be big deal. >> is it a big deal. let me just say that we don't know about bachmann's numbers because she got in so late,
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but she has 3 million left over from her congressional race. if she is the anti-not romney candidate, more money for bachmann. >> bret: that is it. stay tuned to see a really big story out of texas. more on this on the online show in a bit. ♪ eggland's best eggs. -the best in nutrition... -just got better. even better nutrition -- high in vitamins d, e and b12. a good source of vitamin b2. plus omega threes. and 25% less saturated fat than ordinary eggs. but there's one important ingredient that hasn't changed.
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>> bret: finally tonight, you have seen these news reports about big babies being born across the country? they always get a lot of attention. this week there was another big baby in texas. they say everything is bigger in texas, and we had no idea. >> texas couple is celebrating the arrival of their not-so-little bundle of joy. doctors said the baby would be big but they didn't think it was going to be this big. they have named him jamicael. is he the biggest baby in long view, texas. >> that's a big kid. >> jay leno. thanks for inviting us into your home tonight. that's it for this "special report." fair, balanced, and unafraid, "special report" online, no big babies, starts right now.